1 hr ago
IRFC Signs Rs 4,200 Crore DVC Renewable Energy Loan
Indian Railway Finance Corporation, or IRFC, has agreed to lend Rs 4,200 crore to Damodar Valley Corporation, or DVC.
The money will help build several kinds of solar power projects.
It will also help create battery storage facilities.
These projects will be located in Jharkhand and West Bengal.
DVC plans to use land, reservoirs and power lines it already has.
IRFC said the deal supports Indian Railways’ goal of reaching net-zero carbon emissions by 2030.
The agreement is also part of IRFC’s plan to finance projects beyond traditional railway work.
The company described this broader strategy as “IRFC 2.0.”
Indian Railway Finance Corporation signed a Rs 4,200 crore term loan agreement with Damodar Valley Corporation.
The financing will support floating, ground-mounted and rooftop solar projects, plus battery storage facilities.
Projects will be developed across Jharkhand and West Bengal using DVC’s land, reservoirs and transmission infrastructure.
IRFC said the agreement supports Indian Railways’ target of achieving net-zero carbon emissions by 2030.
The deal expands IRFC’s financing portfolio beyond railways into renewable energy and other infrastructure sectors.
- Who
- Indian Railway Finance Corporation and Damodar Valley Corporation, with senior officials including Manoj Kumar Dubey and Manish Kumar involved in the signing.
- What
- A Rs 4,200 crore term loan agreement to finance solar and battery energy storage projects.
- Where
- The agreement was signed in New Delhi; the projects will be developed across Jharkhand and West Bengal.
- When
- The articles do not specify the signing date.
- Why
- To fund renewable energy infrastructure and support Indian Railways’ target of achieving net-zero carbon emissions by 2030.
Key facts
- Loan amount
- Rs 4,200 crore
- Lender
- Indian Railway Finance Corporation
- Borrower
- Damodar Valley Corporation
- Project types
- Floating solar, ground-mounted solar, rooftop solar and Battery Energy Storage System facilities
- Project locations
- Jharkhand and West Bengal
- Target supported
- Indian Railways’ target of net-zero carbon emissions by 2030
- Strategic expansion
- IRFC is extending financing into renewable energy, power, metro rail, logistics and related infrastructure
Sources
Related news
ADB Signs First India Advisory Pact With Madhya Pradesh
RVNL Wins Rs 903 Crore Buxar Power Plant Contract
Namo Bharat Corridor to Get 110-MW Captive Solar Plant
NITI Aayog Member Calls for Green Finance for Nuclear Energy
POWERGRID Wins Gujarat Project to Integrate 7,500 MW Renewables
Bihar Targets Massive Solar Investment Amid Energy Crisis
Jadavpur University Green Hydrogen Research Centre Wins Centre Approval
Coal India diversifies into gasification, renewables and critical minerals
NBCC Wins ₹144.98 Crore Domestic Orders Led by Bokaro
North Bengal Trains Cancelled After Landslides as Relief Begins
